-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KSgN6mo4z3J+aiZD12LgY/UuFVUlplefSGjOsgihJRkqL4zmYX6ENllF0uu3fgT9 CCm3oQCYV2Zx1VJu27VvnA== 0000912057-97-011806.txt : 19970404 0000912057-97-011806.hdr.sgml : 19970404 ACCESSION NUMBER: 0000912057-97-011806 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19890630 FILED AS OF DATE: 19970403 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: XANTHIC ENTERPRISES INC CENTRAL INDEX KEY: 0000824430 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 943030021 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 033-17966-LA FILM NUMBER: 97574029 BUSINESS ADDRESS: STREET 1: 8833 SUNSET BLVD STREET 2: SUITE 200 CITY: W HOLLYWOOD STATE: CA ZIP: 90069 BUSINESS PHONE: 3102894947 MAIL ADDRESS: STREET 1: 8833 SUNSET BLVD STREET 2: SUITE 200 CITY: W HOLLYWOOD STATE: CA ZIP: 90069 10-Q 1 10-Q U.S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 1989 COMMISSION FILE NO. 33-17966-LA XANTHIC ENTERPRISES, INC. A Colorado Corporation EIN: 94-3030021 1182 Market St. # 540 San Francisco, CA 94102 Telephone: 415-420-5859 Securities registered under Section 12(g) of the Exchange Act: Common Shares and Series A and Series B Common Stock Purchase Warrants The registrant has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months or such shorter period for which such reports were required. The Company's Form 10-K for the fiscal year ended December 31, 1988 was filed late. The number of common shares issued and outstanding as of March 31, 1989 was 5,160,500. This report form is not filed as a transitional format. PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS. The Company's unaudited financial statements for the second quarter of 1989 are at the end of this report. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATION. (1) LIQUIDITY. The Company has no cash assets and no liquidity. (2) CAPITAL RESOURCES. The Company has no capital resources. (3) RESULTS OF OPERATIONS. The Company has not operated during the past fiscal year and there are no results of operations. PART II - OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS There are no legal proceedings in which the Company is engaged. 1 ITEM 2. CHANGES IN SECURITIES There have been no changes in the rights, preferences or privileges of any security of the Company during the second quarter of 1989. ITEM 3. DEFAULTS UPON SENIOR SECURITIES There has been no default on any security during the second quarter of 1989. ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS No matters have been submitted to a vote of security holders during the second quarter of 1989. ITEM 5. OTHER INFORMATION N/A ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K During the second quarter of 1989 the Company filed no reports on Form 8-K. FINANCIAL STATEMENTS. The Company's unaudited financial statements for the period ending June 30, 1989 follow this page. 2 XANTHIC ENTERPRISES, INC. (A development stage company) BALANCE SHEETS June 30, December 31, ------------- 1988 1989 1988 -------------- --------- -------- (Audited) (Unaudited) ASSETS CURRENT ASSETS: Cash $ 48 $ - $ 687 Other Assets - - 603 -------- -------- -------- $ 48 - $ 1,290 -------- -------- -------- LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) CURRENT LIABILITIES: Accounts payable $ 1,156 $ - $ 848 Note payable 17,051 - 17,051 -------- -------- -------- 18,207 - 17,899 -------- -------- -------- STOCKHOLDERS' EQUITY (DEFICIT) Common stock - $.0001 par, 50,000,000 shares authorized, 5,160,500 and 5,481,826 issued and outstanding 516 548 516 Paid in Capital 4,152 11,651 4,152 Retained deficit (22,827) (12,199) (21,277) -------- -------- -------- TOTAL STOCKHOLDERS' EQUITY (DEFICIT) (18,159) - (16,609) -------- -------- -------- $ 48 $ - $ 1,290 -------- -------- -------- -------- -------- -------- 3 XANTHIC ENTERPRISES, INC. (A development stage company) STATEMENT OF OPERATIONS
For the Three Months For the six Months For the ending June 30, ending June 30, October 27, 1986 year ending ------------------ ----------------- (date of inception) December 31, 1988 1989 1988 1989 1988 to June 30, 1989 ----------------- -------- -------- -------- ------- ------------------ (Audited) (Unaudited) (Unaudited) (Unaudited) REVENUES $ - $ - $ - $ - $ - $ - ----------- ---------- ------------ ----------- ----------- ----------- OPERATING EXPENSES General and administrative 3,101 31 776 6,423 1,551 10,684 ----------- ---------- ------------ ----------- ----------- ----------- Loss from operations (3,101) (31) (776) (6,423) (1,551) (10,684) OTHER INCOME (EXPENSES) Interest expense (1,500) - - - (1,500) (1,500) Aborted offering costs (17,066) - - - (17,066) (17,066) Debt relief - - - 17,051 - 17,051 ----------- ---------- ----------- ----------- ----------- ----------- TOTAL OTHER INCOME (EXPENSES) (18,566) - - 17,051 (18,566) (1,515) ----------- ---------- ----------- ----------- ----------- ----------- NET INCOME (LOSS) $ (21,667) $ (31) $ - $ 17,051 $ (18,566) $ (1,515) ----------- ---------- ----------- ----------- ----------- ----------- ----------- ---------- ----------- ----------- ----------- ----------- NET INCOME (LOSS) PER COMMON SHARE $ (.004) $ 0 $ (.0001) $ .002 $ (.004) $ (.002) ----------- ---------- ----------- ----------- ----------- ----------- ----------- ---------- ----------- ----------- ----------- ----------- WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING 5,160,500 5,481,826 5,160,500 5,481,826 5,160,500 5,481,826 ----------- ---------- ----------- ----------- ----------- ----------- ----------- ---------- ----------- ----------- ----------- -----------
4 XANTHIC ENTERPRISES, INC. (A development stage company) STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT)
Accumulated Common Stock deficit during ---------------- Paid in development Shares Amount Capital stage Total ---------- --------- --------- --------------- --------- BALANCE, DECEMBER 31, 1987 1,010,000 $ 101 $ 2,212 $ (1,160) $ 1,153 Issued 4,150,500 shares of common stock 4,150,500 415 1,510 - 1,925 Additional paid-in Capital - - 430 - 430 Net loss for year - - - (21,667) (21,667) --------- -------- ------- ---------- ---------- BALANCE, DECEMBER 31, 1988 5,160,500 $ 516 $ 4,152 $ (22,827) $ (18,159) Sold 7,500 shares of common stock 7,500 1 7,499 - 7,500 Issued shares of common stock 313,826 31 - - 31 Net income for period - - - 10,628 10,628 --------- -------- ------- ---------- ---------- BALANCE, JUNE 30, 1989 5,481,826 $ 548 $11,651 $ (12,199) $ - --------- -------- ------- ---------- ---------- --------- -------- ------- ---------- ----------
5 XANTHIC ENTERPRISES, INC. (A development stage company) STATEMENT OF CASH FLOWS
For the year For the six months October 27, 1986 ending December 31, ending June 30, (Date of inception) ------------------- ------------------ to June 30, 1989 1988 1989 1988 ------------------- ---- ---- ---- (Audited) (Unaudited) (Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES Net income (loss) $(21,667) $10,628 $(20,117) $(12,199) Adjustments to reconcile net income to net cash provided by (used in) operating activities: Debt relief - (17,051) - - Common stock issued for services - 31 - 31 Changes in operating assets and liabilities: Accounts payable 1,156 1,156 848 - Other assets (1,020) - (1,623) - Deferred costs 17,066 - 17,066 - --------- ------- --------- --------- NET CASH PROVIDED BY FINANCING ACTIVITIES (4,465) (7,548) (3,826) (12,168) CASH FLOWS FROM FINANCING ACTIVITIES Sale of common stock 1,925 7,500 1,925 12,168 Note payable 1,500 - 1,500 - --------- ------- --------- --------- NET CASH PROVIDED BY FINANCING ACTIVITIES 3,425 7,500 3,425 12,168 --------- ------- --------- --------- NET INCREASE (DECREASE) IN CASH (1,040) (48) (401) - CASH, BEGINNING OF PERIOD 1,088 48 1,088 - CASH, END OF PERIOD $ 48 $ - $ 687 $ - --------- ------- --------- --------- --------- ------- --------- ---------
6 SIGNATURE In accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934, this registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. XANTHIC ENTERPRISES, INC. Dated: 4/2/97 --------------------------------- By: /s/ Mark A. Lilly -------------------------------------- Mark A. Lilly, President, Director and Chief Financial Officer 7 -----END PRIVACY-ENHANCED MESSAGE-----